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GE Taking Trustreet Private in $3B Deal

In a deal that will mean one less net lease REIT for the public stock market but will boost the assets of its private acquirer from about $500 million to $3.5 billion, GE Capital Solutions has agreed to buy Trustreet Properties Inc.

By Michelle Napoli | Updated on November 08, 2006

Michelle Napoli is editor of Net Lease forum, from which this article is excerpted.

Scottsdale, AZ—In a deal that will mean one less net lease REIT for the public stock market but will boost the assets of its private acquirer from about $500 million to $3.5 billion, GE Capital Solutions has agreed to buy Trustreet Properties Inc. “It’s a big move to grow that product in our portfolio,” says Diane Cooper, president and CEO of the Scottsdale, AZ-based franchise finance business unit of Danbury, CT-based GE Capital Solutions.

Because the GE business has sold properties in the past, Cooper tells Net Lease forum the acquisition is a “great opportunity to reload,” adding, “Growth is a big thing for our business. But it’s not growth for growth’s sake. It has to be a strategic fit.”

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